"We have been over the ground often. These people have been an annoyance to us; this is undeniable. McCrea has complained of them for two years. Through a shift in the cards--this money squeeze--we have them to-day in our hands----"
Uncle John's eyes shone and he clasped the fingers of one hand tightly in the other. "That is what I say; trim them!" he whispered eagerly.
Robert went on, unmoved: "Let us look at that, too. He wants me to trim them. I have steadily opposed buying them at all. But the rest of you have overruled me. Very good. They know now that they are in our power. They are, one and all, bushwhackers and guerillas. To my mind there isn't a trustworthy man in the crowd--not even MacBirney.
"They have made selling agreements with McCrea again and again and left him to hold the sack. We can't do business in that way. When we give our word it must be good. They give their word to break it. Whenever we make a selling agreement with such people we get beaten, invariably. They have cut into us on the Missouri River, at St. Paul, even at Chicago--from their Kansas plants. They make poor sugar, but it sells, and even when it won't sell, it demoralizes the trade. Now they are on their knees. They want us to buy to save what they've got invested. At a receiver's sale they would get nothing. But on the other hand Lambert might get the plants. If we tried to bid them in there would be a howl from the Legislature, perhaps."
Uncle John was growing moody, for the prey was slipping through his fingers. "It might be better to stand pat," he muttered.
Robert paid no attention. "What I propose, and God knows I have explained it before, is this: These people can be trimmed, or they can be satisfied. I say give them eleven millions--six millions cash--three millions preferred and two millions in our common for fifty per cent of their stock instead of sixteen millions for all of their stock."
Uncle John looked horror stricken. "It is nothing to us," exclaimed Robert, impatiently. "I can make the whole capital back in twelve months with McCrea to help MacBirney reorganize and run the plants. It is a fortune for them, and we keep MacBirney and the rest of them, for ten years at least, from scheming to start new plants. Nelson says there are legal difficulties about buying more than half their stock. But the voting control of all of it can be safely trusteed."
Uncle John could barely articulate: "Too much, it is too much."
"Bosh. This is a case where generosity is 'plainly indicated,' as Hamilton says."
"Too much."